Firm Capital Mortgage Investment Corporation Announces Q3/2025 Results

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[{"type":"text","content":"Firm Capital Mortgage Investment Corporation Announces Q3/2025 Results\n\n\n\n TORONTO, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX FC, FC.DB.J, FC.DB.K and FC.DB.L) today released its financial statements for the nine months ended September 30, 2025.\n \n\n\n\n NET INCOME\n \n\n\n\n For the three months ended September 30, 2025, net income increased by 1.4% to $9,088,270 as compared to $8,960,532 for the same period in 2024. Net income for the nine months ended September 30, 2025 increased by 10.3% to $28,735,689, as compared to $26,064,088 reported for the same period in 2024.\n \n\n\n\n EARNINGS PER SHARE\n \n\n\n\n Basic weighted average earnings per share for the three months ended September 30, 2025 was $0.247, as compared to the $0.250 per share reported for the three months ended September 30, 2024. Distributions per share to shareholders for the third quarter ended September 30, 2025 totaled $0.234.\n \n\n For the nine months ended September 30, 2025, the Corporation reported income in excess of distributions by approximately $2.95 million, or $0.08 per share.\n \n\n\n\n PORTFOLIO\n \n\n\n\n The Corporation’s investment portfolio decreased by 4.1% to $627.1 million as at September 30, 2025, in comparison to $653.8 million as at December 31, 2024 (in each case, gross impairment allowance, fair value adjustment, and unamortized fees). For the nine months ended September 30, 2025, new investment funding was $216.5 million (2024 – $234.3 million), and repayments were $243.3 million (2024 – $186.5 million). On September 30, 2025, the Investment Portfolio was comprised of 248 investments (2024 – 286). The average gross investment size was approximately $2.5 million, with 16 investments individually exceeding $7.5 million.\n \n\n\n\n ALLOWANCE FOR EXPECTED CREDIT LOSSES AND FAIR VALUE ADJUSTMENTS\n \n\n\n\n The allowance for expected credit losses and fair value adjustment as of September 30, 2025 was $34.4 million (December 31, 2024 – $29.6 million), comprising (i) $27.4 million (December 31, 2024 – $21.9 million) representing the total amount of management’s estimate of the shortfall between the investment balances and the estimated recoverable amount from the security under the specific loans, (ii) $4.6...

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